* read the dracut man page
* remove "rhgb" from the kernel command line and maybe "quiet"
* add "rdshell" to the kernel command line and you are dropped to a shell
* add "rdshell rdinitdebug" to the kernel command line and dracut shell
commands are printed as they are executed
* with dracut >= 002-11 (
http://koji.fedoraproject.org/koji/buildinfo?buildID=134721 ), you can
inspect the rdinitdebug output with:
# less /init.log
and
# dmesg | less

oh, and you might be able to
* mount /boot
or
* ifup eth0 and nfs mount a share
to copy over /init.log or the whole dmesg output